Follow UsA rift in the Maran household might just throw open a huge worry for Sunrisers Hyderabad, as the franchise’s owner is battling a legal case over money laundering.
Former DMK (Dravida Munnetra Kazhagam) MP Dayanidhi Maran has allegedly dragged his brother, Kalanithi Maran, into a legal case, accusing him of “fraudulently seizing control of the company through a disputed share allotment in 2003.”
According to The Economic Times, Dayanidhi has 'demanded restoration of the company’s shareholding structure to its pre-September 2003 status, when the Maran family and that of the late M Karunanidhi owned equal shares in the company'.
“In order to take over the entire company and its assets for the personal benefit of No. 1 & 2 of you (Kalanithi and Kaveri Maran), No. 1 of you orchestrated a deceptive and devious plan in active conspiracy with No. 2 to 8 of you,” the notice said, reported Moneycontrol.
"As part of executing your premeditated fraudulent scheme, taking advantage of the family's situation, especially when my client’s father’s health was critical and he could pass away at any moment and the entire family was concerned about his deteriorating health, No. 1 and No. 2 of you commenced your first illegal activity in September 2003.”
According to Dayanidhi, who has put the legal case, the “allegedly fraudulent allotment allowed Kalanithi to earn over Rs 5,926 crore in dividends till 2023, and Rs 455 crore in 2024,” and here is where SRH come into the picture.
He further claims in the notice, “These proceeds of crime have been utilized to further enrich yourself by the acquisition of valuable assets/companies, such as Sun Direct TV Pvt Ltd, Kal Radios Pvt Ltd, Kal Airways Pvt Ltd, Kal Publications Pvt Ltd, Sunrisers Hyderabad (SRH), South Asian FM, Sun Pictures, a cricket team in South Africa, a cricket team in the United Kingdom, SpiceJet, and other downstream investments.”
If the court rules in Dayanidhi’s favour, the Board of Control for Cricket in India (BCCI) might have to make a decision regarding the ownership rights, and Sun TV Group would be forced to sell the franchise.
However since then, Sun TV have issued a clarification regarding the same.
"The statements allegedly made in the articles are incorrect, misleading, speculating, defamatory and not supported by facts or law. We wish to inform that all acts have been done in accordance with legal obligations and the same had been duly vetted by concerned intermediaries before the public issue of the Company.," Sun TV said.